22 November 2008
Sec 15 clarifies that Year of chargeability of salary:
Due or receipt whichever falls earlier : Salary is taxable on due basis or on receipt basis , whichever is earlier. Hence, a) Salary due in a PY is taxable, even if it is not received. b) Salary received in a PY is taxable, even if it is not due. c) Arrears of salary received during the current PY shall be taxable in the current year if not charged to tax in an earlier PY.
22 November 2008
Dear ravi Folllowing salary is chargable on receipt basis. 1.Arrears of salary if it is not charged on due basis 2.Advance salary 3.Salary on Notice.
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